Power of Attorney

Introduction

On occasion it is necessary for your client to grant Power of Attorney to a third party. The Attorney is then able to conduct your client's (the donor’s) affairs on their behalf, as specified in the Power of Attorney document.

Key points

• A Power of Attorney is a legal document allowing one person the power to act on another persons behalf in relation to property or financial affairs
• We are not able to accept a Power of Attorney whilst an application is being underwritten for protection policies
• In order for us to deal with any policy alterations or surrenders or claims requested by the Attorney we will require sight of the Power of Attorney document. The same will apply to any requests for information

Protection contracts (all types)

The nature of an insurance application makes it unsuitable for completion by an Attorney. It is a contract of ‘utmost good faith’ between your client and us and the Attorney is unlikely to possess the required personal knowledge to enable completion of the application form truthfully on behalf of the applicant.

We are therefore not able to allow an Attorney to complete an application on behalf of the applicant, nor will we allow an Attorney to sign a Declaration of Health (DOH).

For life assurance, critical illness cover and/or health insurance policies in particular, it is unlikely that the Attorney would be able to provide full, up to date medical details. It is also likely that a doctor would be unwilling to provide confidential medical details on your client without their express consent therefore they would not accept the Attorney’s signature as authority to proceed.

Pension contracts

For the same reasons as given above we are unable to accept applications for Personal Pensions and Free Standing Additional Voluntary Contributions signed by an Attorney.

Investment contracts

We will accept applications signed by an Attorney, unless a gift or trust is involved. Evidence of the Power of Attorney needs to accompany all applications, and in the case of ISA applications, the Power of Attorney must be an enduring Power of Attorney that has been stamped by the Court of Protection or the Public Trustee.